Bitcoin Heads for $150K as Regulatory Clarity Boosts Institutional Adoption
Bitcoin has likely weathered its worst cycle yet and is on track to reach $150,000 by late 2027, according to CK Zheng, a former global head of valuation risk at Credit Suisse.
Zheng, now co-founder and CIO of ZX Squared Capital, points to greater regulatory clarity as the catalyst for institutional investment in Bitcoin. He notes that the crypto industry has become much healthier during this bear market due to rapid institutional adoption.
The latest drawdown, Zheng argues, reflects a maturing asset class rather than a collapse like those seen previously with Terra/Luna, Celsius, Voyager, and FTX.
He expects a new bull market to begin late this year or early next, citing the passing of the CLARITY Act as a key trigger. Serious institutional investors will need to hedge dollar debasement risk by investing in Bitcoin, Zheng says.